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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

China, taking advantage of global recession, goes on a buying spree

Posted on 23 February 2009

From Csmonitor.com: Squeezed between falling profits and the credit crunch, a growing number of troubled corporations and countries are turning to cash-rich China for a bailout. And with foreign assets cheaper than they have been for years, Beijing is going on an international spending spree.

“The international financial crisis … is equally a challenge and an opportunity,” China’s energy czar, Zhang Guobao, wrote recently in the official newspaper People’s Daily. “The slowdown … has reduced the price of international energy resources and assets and favors our search for overseas resources.”…. Full Article: Source


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